Active Stocks
Tue May 21 2024 15:59:52
  1. Tata Steel share price
  2. 174.30 3.81%
  1. NTPC share price
  2. 371.90 1.50%
  1. Power Grid Corporation Of India share price
  2. 325.45 2.71%
  1. Tata Motors share price
  2. 951.15 -0.19%
  1. State Bank Of India share price
  2. 830.55 1.18%
Business News/ Companies / Company Results/  SBI Q2 Results Highlights: Net profit up 8% at 14,330 crore; NII grows 12.3% YoY; beats estimates
BackBack

SBI Q2 Results Highlights: Net profit up 8% at ₹14,330 crore; NII grows 12.3% YoY; beats estimates

SBI Q2 Results Live Updates: SBI’s domestic net interest margin (NIM) for Q2FY24 decreased by 12 bps YoY to 3.43%. 

SBI Q2 Results Live Updates: SBI's net interest income during the quarter ended September 2023 increased 12.3% YoY to ₹39,500 crore.Premium
SBI Q2 Results Live Updates: SBI's net interest income during the quarter ended September 2023 increased 12.3% YoY to 39,500 crore.

SBI Q2 Results Live Updates: State Bank of India (SBI), the country’s largest lender, announced its September quarter results today, November 4. SBI reported an 8% year-on-year (YoY) growth in its Q2FY24 standalone net profit at 14,330 crore. The lender’s net interest income during the quarter ended September 2023 increased 12.3% YoY to 39,500 crore. SBI’s domestic net interest margin (NIM) for Q2FY24 decreased by 12 bps YoY to 3.43%. Asset quality improved sequentially.

04 Nov 2023, 03:16:53 PM IST

SBI Q2 Results: Net profit rises 8% YoY to ₹14,330 crore, net interest income grows 12.3%

India's largest commercial bank, State Bank of India (SBI) released its July-September quarter results on Saturday. SBI reported an 8% year-on-year jump in the net profit as it grew from 13,264.5 crore in Q2FY23 to 14,330 crore in the quarter under review. The net interest income (NII) of the State Bank of India jumped 12.3% compared to the same period last year, reaching 39,500 crore. Additionally, there was a 21.6% growth in other sources of income, bringing it to 10,790 crore. Read full report here

04 Nov 2023, 02:50:55 PM IST

SBI Q2 Results Live: Provisions fall to ₹115.3 crore 

SBI’s provisions in Q2FY24 stood at 115.3 crore versus 3,039 crore YoY and versus 2,501 crore, QoQ.

04 Nov 2023, 02:40:06 PM IST

SBI Q2 Results Live: Credit growth at 12.39%, Deposits grew 11.91% YoY

A look at SBI’s Balance Sheet in Q2FY24:

  • Credit growth at 12.39% YoY with Domestic Advances growing by 13.21% YoY
  • Foreign Offices’ Advances grew by 8.11% YoY
  • Domestic Advances growth driven by SME Advances (22.75% YoY) followed by Retail Personal Advances which grew by 15.68% YoY
  • Foreign Office advances cross 5 lakh crore
  • Agri and Corporate loans registered YoY growth of 14.76% and 6.62% respectively
  • Whole Bank Deposits grew at 11.91% YoY out of which CASA Deposit grew by 4.91% YoY
  • CASA ratio stands at 41.88% as on 30th September 2023

04 Nov 2023, 02:36:32 PM IST

SBI Q2 Results Live: Credit cost improves to 0.22%

SBI’s credit cost for Q2FY24 improved by 6 bps YoY to 0.22%. The bank’s credit growth during the quarter was 12.39% YoY.

04 Nov 2023, 02:31:55 PM IST

SBI Q2 Results Live: Slippages at 0.46%, PCR falls 248 bps; check key ratios

SBI’s key ratios in Q2FY24:

  • Provision Coverage Ratio (PCR) at 75.45% declined by 248 bps YoY
  • Slippage Ratio increased by 13 bps YoY to 0.46%
  • Capital Adequacy Ratio (CAR) improved by 77 bps YoY to 14.28%
  • CET-1 Ratio up 41 bps at 9.94%
  • Tier-1 ratio up 66 bps at 11.78%

04 Nov 2023, 02:28:45 PM IST

SBI Q2 Results Live: Operating profit drops 8% YoY

SBI’s Pre-Provision Operating Profit (PPoP) for the quarter ended September 2023 declined by 8.07% to 19,417 crore from 21,120 crore, YoY

04 Nov 2023, 02:26:40 PM IST

SBI Q2 Results Live: Net interest margin dips 12 bps to 3.43%

SBI’s domestic net interest margin (NIM) for Q2FY24 decreased by 12 bps YoY to 3.43%. Domestic NIM for H1FY24 increased by 6 bps YoY to 3.45%. 

04 Nov 2023, 02:24:00 PM IST

SBI Q2 Results Live: NPA ratio drops on QoQ basis

SBI’s gross NPA as a percentage of gross advances during the September 2023 quarter declined 21 basis points (bps) to 2.55% from 2.76% in the June 2023 quarter.

Net NPA ratio, or net NPA as a percentage of net advances, in Q2FY24 fell 7 bps to 0.64% from 0.71%, QoQ.

04 Nov 2023, 02:22:00 PM IST

SBI Q2 Results Live: Asset quality improves sequentially

SBI’s asset quality during the quarter ended September 2023 improved sequentially. The bank’s gross non-performing assets (GNPA) in Q2FY24 fell 4.8% to 86,974.08 crore from 91,327.84 crore in Q1FY24.

Net Non-Performing Assets (NNPA) decreased 7.1% to 21,352.4 crore from 22,995 crore, QoQ.

04 Nov 2023, 02:12:42 PM IST

SBI Q2 Results Live: NII rises 12.3% YoY to ₹39,500 crore

SBI’s net interest income (NII) in Q2FY24 rose 12.3% to 39,500 crore from 35,183.4 crore in the year-ago quarter.

04 Nov 2023, 02:07:10 PM IST

SBI Q2 Results Live: Net profit up 8% You at ₹14,330 crore

SBI reported net profit growth of 8% YoY at 14,330 crore in the quarter ended September 2023.

04 Nov 2023, 02:00:13 PM IST

SBI Q2 Results Live: Public Sector Banks to report robust earnings growth

Earnings growth is likely to remain robust for Public Sector Banks in Q2FY24, aided by controlled credit costs, though margins may moderate due to rising funding costs. PSBs are likely to deliver NII/PPoP growth of 12%/8% YoY and PAT growth of ~20% YoY. Opex is likely to remain elevated as banks provide for wage revisions. Treasury performance should be sluggish during the quarter due to an increase in bond yields after a robust 1QFY24, according to Motilal Oswal Financial Services.  

Loan growth should recover on a sequential basis, led by improved corporate demand and ongoing traction in the retail and MSME segments. Asset quality improvement is likely to continue, while healthy PCR and a sharp decline in SMA asset pool will lead to further moderation in credit costs, the brokerage firm said.

04 Nov 2023, 01:46:51 PM IST

SBI Q2 Results Live: SBI share valuation attractive; retain Buy: Prabhudas Lilladher

SBI could outperform Bank of Baroda on net interest margin (NIM) given higher CASA and unsecured share and more headroom available for growth due to lower LDR at 71.4% vs 80.3% for BoB. Valuation gap between BoB and SBI has narrowed which should widen. Valuation is attractive at 1.2x on core FY25E ABV, brokerage firm Prabhudas Lilladher said. It retained a ‘Buy’ rating on SBI with a target price of 770 per share.

04 Nov 2023, 01:29:32 PM IST

SBI Q2 Results Live: A look at SBI’s Q2FY24 performance

SBI’s net profit in the first quarter of FY24 jumped 178.25% YoY to 16,884 crore. Its net interest income (NII) in April to June 2023 quarter rose 24.71% YoY, while domestic net interest margin (NIM) increased by 24 bps YoY to 3.47%.

SBI reported that its Operating Profit for Q1FY24 grew by 98.37% YoY to 25,297 crore from 12,753 crores during Q1FY23. Bank’s ROA and ROE for the quarter stood at 1.22% and 24.42% respectively. Read full Q1 Results here

04 Nov 2023, 01:10:06 PM IST

SBI Q2 Results Live: SBI shares down 5% YTD

SBI share price has fallen marginally over the last couple of months. SBI shares declined over 4% in the past one month, while the stock is down over 2% in three months. SBI shares have fallen more than 5% year-to-date (YTD) and they are down over 1% in the past one year.

04 Nov 2023, 12:50:45 PM IST

SBI Q2 Results Live: Sequential loan growth to be 3.0%: Yes Securities

SBI’s sequential loan growth will be in the 3.0% ballpark due to the idiosyncratic growth trajectory. Net interest income (NII) growth will be slightly slower than loan growth due to the cost of deposits catching up. Consequently, net interest margin (NIM) will be marginally lower sequentially, as per Yes Securities estimates.

Sequential fee income growth will broadly match loan growth. Opex growth will slightly lag loan growth. Slippages would be broadly stable on a sequential basis. Provisions will be higher sequentially due to low base in the first quarter and prudential provisioning, the brokerage firm said.

04 Nov 2023, 12:30:22 PM IST

SBI Q2 Results Live: Expect sharp fall in trading gains: Nuvama Equities

SBI is estimated to report a 9% rise in total income at 48,218.9 crore in Q2FY24 as compared to 44,057.4 crore, YoY, as per Nuvama Institutional Equities. It expects Pre-Provision Operating Profit (PPoP) to remain stable at 21,139.5 crore, while net profit to rise 3% YoY to 13,620.7 crore.

We expect a sharp fall in trading gains. Loans to grow under 2% QoQ and NIM is likely to decline by 6 bps, said the brokerage firm.

04 Nov 2023, 12:14:52 PM IST

SBI Q2 Results Live: Expect margin contraction, moderation in profitability: Emkay Global

Emkay Global Services expects some margin contraction for SBI in Q2FY24 coupled with lower treasury gains to lead to moderation in profitability. It expects slippages to moderate QoQ, while recovery from Q1 NPAs should lead to moderation in NPAs.

04 Nov 2023, 12:00:01 PM IST

SBI Q2 Results Live: Lower treasury income may dent operating profit

According to brokerage firm Prabhudas Lilladher, SBI’s net interest income (NII) is expected to grow marginally by 0.5% QoQ while loan growth seen at 3.0% for the quarter. Margin could moderate by 11 bps sequentially; PPoP to decline sharply by 23.6% QoQ on account of lower treasury income. Asset quality to improve further by 19 bps sequentially with stable credit costs.

04 Nov 2023, 11:45:48 AM IST

SBI Q2 Results Live: Slippages estimated to be 1.5% of loans

SBI is expected to report Q2 slippages at around 1.5% of loans (lower impact from PSL in 2QFY24) as the overall loans are holding up well, as per Kotak Institutional Equities. We are likely to see lower recovery and upgrades as well, the brokerage firm said. 

Key discussion would be net interest margin (NIM), RoE, unsecured loans and CAR for the quarter, it added.

04 Nov 2023, 11:30:46 AM IST

SBI Q2 Results Live: NIM to decline but see a possibility of stable performance: Kotak Equities

Kotak Institutional Equities expects SBI’s operating profit growth to be flat YoY on higher operating expenses and net interest margin (NIM) pressure. It is building in 10% YoY net interest income (NII) growth on the back of 12% YoY loan growth. 

We are building net interest margin (NIM) to decline 10 bps QoQ but do see a possibility of stable performance, given the structure of the loan book and negligible need for deposits to fund this growth, Kotak Institutional Equities said.

04 Nov 2023, 11:15:32 AM IST

SBI Q2 Results Live: Asset quality may improve sequentially

SBI’s asset quality in the quarter ended September 2023 is expected to improve sequentially. The lender’s gross non-performing assets (GNPA) as a percentage of gross advances in Q2FY24 are expected to drop by 19 basis points (bps) to 2.58% from 2.76% in the previous quarter. Net NPA ratio, or net NPA as a percentage of net advances, is likely to remain flat sequentially at 0.7% during the quarter.

04 Nov 2023, 11:00:30 AM IST

SBI Q2 Results Live: NII may rise 10.7% YoY led by 12% loan growth

SBI’s net interest income (NII) in Q2FY24 is likely to rise 10.7% year-on-year (YoY) on the back of 12% loan growth. NII is estimated to be at 38,948 crore in the quarter ended September 2023 as against 35,183.4 crore in the year-ago quarter.

Net interest margin (NIM) during the quarter is expected to contract by 10 basis points (bps) sequentially.

04 Nov 2023, 10:46:57 AM IST

SBI Q2 Results Live: Net profit may rise 2.3%; PPoP growth seen at 0.9% YoY

The public sector lender SBI is expected to report a net profit of 13,569 crore for the second quarter of FY24, witnessing a moderate growth of 2.3% from 13,264.5 crore in the same quarter of last fiscal year, as per average estimates of five brokerages.

The bank’s Pre-Provision Operating Profit (PPoP) in Q2FY24 is expected to grow 0.9% to 21,299.7 crore from 21,119.6 crore, YoY.

04 Nov 2023, 10:30:12 AM IST

SBI Q2 Results Live: Net profit likely to rise 2.3%, NII growth seen at 11% YoY

The public sector lender SBI is expected to report a net profit of 13,569 crore for the second quarter of FY24, witnessing a moderate growth of 2.3% from 13,264.5 crore in the same quarter of last fiscal year, as per average estimates of five brokerages. SBI’s net interest income (NII) in Q2FY24 is likely to rise 10.7% year-on-year (YoY). Read full preview here

04 Nov 2023, 10:15:05 AM IST

SBI Results Live: Expect moderate rise in profit, NII; asset quality to improve

SBI is expected to report a subdued quarter with a marginal rise in net profit and net interest income (NII), while net interest margin (NIM) is likely to be under pressure. The bank may see improvement in asset quality sequentially supported by a low stressed asset pool, while credit costs are likely to remain stable.

04 Nov 2023, 10:00:54 AM IST

SBI Results Live: Public sector lender SBI to announce Q2 results today

State Bank of India (SBI), the country’s largest lender, is set to announce its September quarter results today, November 4.

Download the App to get 14 days of unlimited access to Mint Premium absolutely free!

Recommended For You